Smooth Love Potion
About Smooth Love Potion
The price of Smooth Love Potion (SLP) is $0.00249301 today, as of Sep 20 03:34 a.m., with a 24-hour trading volume of $8.50M. Over the last 24 hours, the price has increased by 3.10%. Smooth Love Potion currently has a circulating supply of 13.86B and a market cap of $34.56M.
Smooth Love Potion (SLP) is one of the in-game currencies associated with Axie Infinity, the popular play-to-earn blockchain-based online game developed by Vietnam-based studio Sky Mavis.
Smooth Love Potion serves as an in-game currency earned by players. Rewards are tied to completing player vs. environment (PvE) and player vs. player (PvP) objectives in the game. The SLP token lets players breed Axies, which are in-game characters that can be used in battles or sold. Alternatively, the tokens can be sold on secondary markets. Additionally, SLP can be a form of payment at certain stores, restaurants and other establishments in the Philippines, where Axie Infinity is a tremendously popular game.
Smooth Love Potion (SLP) hit its all-time high price of $0.399727 in July 2021. Its all-time low price was $0.00312759 in June 2020. The token doesn’t have a supply cap.
The Axie Infinity team cut the SLP token issuance rate by 56% to increase its rarity and deflation. Its previous issuance rate resulted in SLP’s price decline because the token’s supply vastly outweighed demand. The game now issues 45 million SLP per day.
Smooth Love Potion, which was initially known as Small Love Potion, has been part of Axie Infinity since its launch in 2018. It has seen numerous price peaks, although none of them were sustained for long. An initial peak of $0.193 occurred in July 2020, followed by a retrace to $0.013 less than two weeks later.
SLP saw a second peak to $0.36 in early May 2021, but the price dipped to $0.08 late that month. A subsequent push culminated in the all-time high in July 2021, but the SLP price has trended down ever since then, resulting in a decrease of over 95% as of May 2022.
The wild price swings seem to be influenced primarily by Axie Infinity headlines or the team introducing core changes to the games. There is ample sideways trading, indicating SLP doesn’t appear subject to pump-and-dump activities.